Putting the Multichoice decline in context
Lindsey Schutters
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#WomensMonth: Candice Stevens - where finance meets passion for conservation
8 Aug 2024
While a career in conservation doesn't seem the most natural progression for a tax attorney, it's a move that sets Candice Stevens apart from the rest.
Candice Stevens, founder and CEO of the Sustainable Finance Coalition
With her BCom and LLB (specialising in tax) from Stellenbosch University, Stevens embarked on a journey to marry the legal, finance and tax sectors with environmental sustainability - and so, in 2019, the Sustainable Finance Coalition was born.
"I knew if I could combine my skillset of being able to interpret legislation, understand how incentives work and how they can be applied in various unique circumstances to maximise cash flow, and promote behavioural change, that I could make a tangible difference. I could build finance solutions that could help private citizens, communities and organisations meet their long-term conservation commitments," Stevens explains.
Now, as founder and CEO of this non-profit, Stevens works to do just that. Some of the organisation's projects includes world-first conservation solutions in SA and Africa – such as the first rhino tax incentive in collaboration with the Department of Forestry, Fisheries and the Environment, and Wilderness Foundation Africa.
In the past four years, the Sustainable Finance Coalition has implemented an inventory of 14 finance solutions across 12 countries in Africa (including South Africa, Namibia, Kenya, Uganda, Malawi, and Rwanda)- generating an estimated $87m (R1.6–2bn) in new flows of finance for conservation.
"Traditionally, and historically, the conservation sector has been isolated from finance, with limited female-led guidance," Stevens continues. "The fact that more women are taking up leadership positions in conservation and driving the sustainability agenda is a positive change in the industry and lends itself to more compassionate leadership. It pushes the boundaries and status quo, and it’s exciting to be a part of it. We stand on the shoulders of some incredible women leaders in conservation who broke first ground."
In celebration of Women's Month, Stevens chats to us about her journey and successes so far, as well as women's vital role in conservation and sustainability.
Tell us a bit more about yourself and how you got into conservation?
Passionate about biodiversity, from elephants to brightly coloured birds like bee-eaters, I made the deliberate decision to transition from a corporate finance career to creating innovative finance solutions for conservation. Growing up in a nature-conscious family and spending time in Botswana's Tuli Block wilderness ignited my dedication to safeguarding nature.
Volunteering at conservation NGOs highlighted the urgent need for diverse financial approaches. Drawing on my legal and tax background, I became a pioneer in nature finance, merging passion with expertise. I was determined to use what I had at my disposal to make a difference in the world around me. As a mom, I encourage my children to find their own sweet spot; I believe innovative minds and stirred hearts are key to future-proofing society.
You've earned several awards and other accolades for your work including the UN Pathfinder Award Special Commendation, Eco-Logic Awards, Mail & Guardian Greening the Future Award, and a Mulago Foundation Fellowship. What does this recognition mean to you and the work you do?
It's not the reason why I embarked on the challenging journey of redefining conservation finance, but it's certainly been encouraging.
The path to developing innovative finance solutions for critical environmental issues has been arduous - demanding intricate problem-solving and unwavering collaboration to engage as many individuals and organisations as possible. Finding purpose in this journey and receiving acknowledgment for that purpose has helped to keep my passion fuelled.
The validation has also been instrumental in enabling my team at the Sustainable Finance Coalition to encapsulate our learnings in a tool accessible to all, empowering others to also craft new finance solutions for nature.
Why is it so important for women to get involved in conservation and sustainability? What unique perspective and attributes do women bring to this table?
I believe women possess a unique ability to collaborate and work inclusively, leveraging the power of diversity. This fusion of diverse skills and viewpoints, coupled with collective action, is pivotal for developing innovative finance solutions for conservation.
Conservation is a multifaceted realm, addressing the social and economic needs of communities while safeguarding biodiversity and ecosystems. The complexity of these challenges necessitates the involvement of diverse groups and mindsets. This is something women do instinctively. Their instinctive approach to collaboration and inclusive leadership is reshaping sectors like finance and conservation.
For too long, these sectors have been siloed, limiting our ability to create comprehensive solutions. The new wave of thinkers and inclusive leadership styles led by women is breaking barriers and fostering multi-sector collaborations. Women are at the forefront of pioneering finance solutions for nature, showcasing their exceptional skills in tackling pressing societal issues.
It's essential to continue empowering women in these roles to address complex challenges collaboratively. Women hold the key to driving innovation, compassion and community-focused solutions for a future that is resilient and transformative.
How does gender equality contribute to sustainability?
Women are disproportionately impacted by biodiversity loss, climate change and unsustainable production. Reports from 2022 reveal a stark reality: financial flows to activities harming nature were 30 times larger than investments in nature. Men dominate executive and management roles in the finance sector, holding over 60%, while women only hold 30%. It's time for a drastic shift from this status quo.
Global evidence is overwhelming: empowering women in decision-making improves resource governance and conservation outcomes globally. Female leaders and women-led teams in sustainability and nature financing represent a positive shift towards a more genuinely sustainable future.
What little changes can women make in their daily lives to help conservation and sustainability efforts?
Women's mastery of multitasking is a powerful asset in driving conservation efforts whether at home or work. The ability to make interconnected decisions that juggle multiple needs plays a crucial role in shaping our environmental impact.
Choices like opting for sustainable fashion and supporting local businesses can make a significant daily difference. Women excel at life hacks, like carrying reusable bags for shopping, showcasing their commitment to eco-friendly practices.
In workplace settings, the influence of women in decision-making processes is paramount, just like an event planner friend who prioritises gifts and equipment aligned with South Africa's indigenous plant life, demonstrating the impactful voice women bring to environmental sustainability in all facets of life.
What advice do you have for young girls looking to pursue a career in conservation?
Don’t let stereotypes hold you back! I've been told numerous times that combining finance and conservation was unrealistic, especially as a woman. However, I see inspiring women leading the way in sustainability, conservation and finance. These trailblazers give me hope for a future where finance protects biodiversity and vulnerable communities. Bring your compassion, creativity and critical thinking to forge a career that blends purpose and expertise.
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